Nawrocki says no to the euro. Kuczyński: The economy isn't ready anyway.

No one will bring Poland into the eurozone at this time, Piotr Kuczyński of the Xelion investment house told PAP, commenting on the president's statements that he opposes the introduction of the euro. The expert noted that neither the Polish economy is ready for this currency, nor is there any chance of amending the constitution.

On Wednesday, Karol Nawrocki took the oath before the National Assembly and delivered his first address, beginning his five-year presidential term.

The president announced his opposition to the introduction of the euro in Poland. Piotr Kuczyński of the Xelion investment house, commenting on the president's declaration, stated that "no one will bring Poland into the eurozone at this time." "There are several different reasons; the basic one is that we are unable to change the constitution; it states that the sole issuer of the Polish currency is the National Bank of Poland. We won't change this because it requires 307 votes in the Sejm (2/3 of the members - PAP)," Kuczyński said.

- Nobody has any intention of introducing the euro anyway, because firstly, we will not change the constitution, and secondly, the Polish economy is not ready for it at the moment - he stressed.

According to Kuczyński, no one has any intention of raising the retirement age unless they "want to commit political suicide." He also noted that the number of working retirees has increased by 50 percent since last year.

During his address, the president also announced that he would convene a Cabinet Council meeting in August. He explained that he would like to discuss investments and the state of public finances with the government. "When running for president, the president said he would frequently convene Cabinet Councils. If he does so very frequently, for example, once a week, deputy ministers or lower-ranking officials will begin to attend instead of ministers, and then the president's willingness to convene these councils will quickly disappear," the analyst noted.

– However, a discussion on state finances from both sides is very sensible because the president wants to submit bills that would significantly impact state finances, therefore consultation between the government and the president is justified and let's hope that something sensible will result from these consultations – added the expert.

Nawrocki also announced that on Thursday he would submit a legislative initiative "so that we return to the traditional shape of the Central Communication Port."

- The president wants to show that he supports the version pushed by the Law and Justice government, but this bill will go to the parliamentary "freezer" anyway and will not be implemented - Kuczyński believes.

NBP President Adam Glapiński explained in June that, in his opinion, Poland's adoption of the euro "would currently pose significant risks to maintaining economic balance and the further convergence process of the Polish economy." Glapiński has repeatedly emphasized that Poland should not abandon the zloty. (PAP)

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